AssureID Authenticates Government-Issued IDs to Comply with KYC Regulations
LOS ANGELES, Oct. 4, 2018 — Acuant, a global provider of identity verification solutions, today announced that Domus Semo Sancus (DSS) Ltd. selected Acuant’s AssureID for identity verification. DSS is a financial technology company that is building tools to encourage financial inclusion and bridge the e-commerce divide. AssureID powers the company’s flagship product, SafetyNet™, to authenticate driver’s licenses, passports and other government issued IDs.
There are approximately 1.7 billion adults worldwide who are unbanked, meaning they have no ability to provide financial institutions with the necessary documentation to prove they are who they say they are. SafetyNet provides a technological solution to international Know Your Customer (KYC) regulations by using AI to generate a profile report in the click of a button to verify the user.
“Living in the Caribbean, I am acutely aware of the challenges that many individuals face with sending money to their families living abroad,” said E. Jay Saunders, Chairman & CEO of Domus Semo Sancus (DSS). “But for us to help the global unbanked achieve financial inclusion, we must adhere to stringent KYC regulations to prove the identity of each person. Every time someone exploits the global financial system, it makes it harder for everyone else – especially those most in need.”
In response to the challenges of verifying users via the KYC process, banks have started de-risking and pulling out of areas they consider high-risk. SafetyNet uses artificial intelligence to perform due diligence checks across tens of thousands of online data sources, pulling together real-time KYC profiles from digital documentation. AssureID is embedded within SafetyNet to help improve the KYC and customer onboarding processes.
“We needed an identity verification provider that could quickly and effectively verify global IDs. The sophistication and ease of use of Acuant’s AssureID blew away the competition,” added Saunders.
“Acuant is constantly updating and expanding its library to reach over 200 countries and territories worldwide. We’re proud to help serve the unbanked population through identity verification,” said Yossi Zekri, President and CEO of Acuant.
Acuant is an identity verification platform that reduces fraud while providing a seamless customer experience. Acuant’s products are award-winning, multi-platform solutions, deployable via web services (cloud), mobile, and desktop applications. Core products include intelligent data capture and auto-fill software, and identity document authentication with the industry’s highest speed and accuracy rates. Acuant also offers Chip and e-Passport authentication with PKI, facial recognition software, and expert manual review of documents to help ensure the highest level of security.
Holding more than 20 patents and powered by human-assisted machine learning, Acuant possesses the industry’s largest ID library, and has completed more than 3 billion transactions worldwide. Partners include start-ups, Fortune 500 and FTSE 350 organizations in various industries including Finance, Government, Healthcare, Security/IAM, Sharing Economy, and Travel. For more information, please visit www.acuantcorp.com.
About Domus Semo Sancus (DSS)
Domus Semo Sancus (DSS) Ltd, founded by E. Jay Saunders in November 2014, is a FinTech company that is building tools to encourage financial inclusion and bridge the e-commerce divide. SafetyNet.ai is DSS’ award-winning enhanced due diligence (EDD) cognitive search and crime prevention tool. It helps companies comply with KYC and AML rules and regulations by utilizing an artificial intelligence engine to help companies spot and mitigate risks before they become threats. SafetyNet.ai is cloud based and is offered in the following subscriptions: Lite, EDD (Enhanced Due Diligence), EDD Enterprise, Safe City, and Developer. For more information on Domus Semo Sancus (DSS) or SafetyNet.ai, visit: www.semosancus.com or www.safetynet.ai.